RBA UPDATE | Effective October 4, 2022
For the sixth consecutive month, the Reserve Bank of Australia (RBA) has made the decision to increase the nation’s official cash rate, which now sits at 2.60%. With the 25-basis-point (bp) increase, Australians are experiencing the highest cash rate since May 2013.
As most banks and other lenders will likely follow the RBA and lift their rates too, again increasing mortgage repayments, it could be a good time for homeowners to consider contacting their mortgage broker for a ‘home loan health check’.
Please reach out if you would like to discuss your home loan options.
